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Chinese auction. A Chinese auction is a combination of a raffle and an auction that is typically featured at charity, church festival and numerous other events. Can also be known as penny social, penny sale, tricky tray or pick-a-prize according to local custom, or to avoid causing offense.
Giving red envelops or Hongbao is a custom at Chinese New Year. Red envelopes always contain money in China, and are given, most commonly, to kids from their parents, grandparents, and others as Chinese New Year gifts. They are called hongbao in Mandarin and lai see in Cantonese.